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Categories >> Accounting >> Accounting General
 
 


 

 
 Audit interview questions  Audit Interview Questions (428)
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 Accounting General interview questions  Accounting General Interview Questions (2833)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4371)
Question
Q.Goods worth Rs.5000 destroyed in fire? Insurance claim 
received RS.4000 for the goods lost? Loss of Rs.1000 pass 
the entries in the books of accounts?
 Question Submitted By :: Accounting-General
I also faced this Question!!     Answer Posted By  
 
Answer
# 1
1) GOODS LOSS BY FIRE A\C DR. 5000
TO GOODS A\C 5000

2) CASH A\C DR. 4000
LOSS A\C DR. 1000
TO GOODS A\C 5000
 
Is This Answer Correct ?    33 Yes 12 No
Himanshu Singhal
 
Answer
# 2
Loss by fire(Goods)A/C Dr. 5,000
To Goods A/C 5,000

(Being goods lost by fire)

P/L A/C Dr. 5,000
To Loss by fire(Goods)A/C 5,000

(Being loss t/fd to p/l a/c)

Bank A/c Dr. 4,000
To Insurance claim A/C 4,000
(Being insurance claim received)

Insurance Claim A/C Dr. 4,000
To P/L A/C 4,000
(Being insurance claim t/fd to P/L A/C)
 
Is This Answer Correct ?    7 Yes 2 No
Sonu
 
 
 
Answer
# 3
Goods destroyed by fire a/c Dr 5000
To inventory a/c Cr 5000
(Being goods destroyed by fire)

Bank a/c Dr 4000
Loss on goods destroyed by fire Dr 1000
To goods destroyed by fire Cr 5000

Being insurence claim received
 
Is This Answer Correct ?    4 Yes 2 No
Nandish
 
Answer
# 4
p&l a/c dr.1000
cash/bank a/c dr.4000

To goods a/c cr. 5000
 
Is This Answer Correct ?    3 Yes 4 No
S K M
 
Answer
# 5
Loss by theft Account Dr 1000
Cash/Bank A/c Dr 4000
To Purchase Account 5000
 
Is This Answer Correct ?    0 Yes 4 No
Ranjit
 
Answer
# 6
Inventory A/C Dr 5000
To Insurance clamied receved A/c 4000
To Loss of inentory A/C 1000
---------------------------------------------
 
Is This Answer Correct ?    3 Yes 11 No
Syedmazhar
 
Answer
# 7
Bank/cash A/c Dr 4000
Drawings A/c Dr 1000
To goods A/c Cr. 5000
 
Is This Answer Correct ?    1 Yes 21 No
Mukesh
 

 
 
 
Other Accounting General Interview Questions
 
  Question Asked @ Answers
 
WAT ARE ACCOUNTING PRINCIPLES   3
Outstanding Income & Advance income - Will it be shown in P&L..? In b/s which side, it will be shown..?   11
what will be the treatment of tds deducted by clients if the it is private company   1
what is accounting   5
If a company pay salary all the employee by seprate cheque and all the employee registed in pf & esi so what is journal the journal entry in tally? and what i create all employee a/c in tally?   5
While calculating TDS are we to take the value+Tax and then arrive at or take only the value   2
Why we do depreciation?What is the main object of Depreciation? Capital-IQ 6
What is the differance between Captial & revanue?   3
How will I post entries to Tally If I purchased a Car in Loan. The principal Amount = 62930 Interest = 6846 Total = 69776 We have to pay Rs 1191 every month for 4 years which include Principle amount and interest. how can I post the monthly entries to tally Steel-Craft 3
What is the difference between Loan and Advance? Banking 9
Salaries and wages per general ledger is 288,000 of which 56,500 is paid in advance. Req: Prepare adjusting journal entries from the books of audrey company as of dec 31 09. (pls help me with this, I'm a bit slow but willing to learn, thanks!)   1
how&when brs is prepared   5
 
For more Accounting General Interview Questions Click Here 
 
 
 
 
 


   
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